High Yield Bonds – Page 4
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FeaturesFrom soft landing to no landing
Once again, the US jobs market has shown its capacity to surprise forecasters, if not astonish them. January’s non-farm payroll numbers came in way above consensus forecasts, swiftly reversing markets’ dovish take on that week’s central bank actions, with bond markets handing back much of their earlier gains.
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Country ReportGermany: Financing the Energiewende
German professional pension funds like ÄVWL and BVK are keen to support the energy transition process
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FeaturesIPE Quest Expectations Indicator March 2023
The next Ukrainian offensive will be in April at the earliest, as modern tanks will have arrived by then. US Republican pushback of ESG and climate-related investments are a new bone of contention in relations with the EU, already strained by the Trump presidency, and a bad sign for US-EU co-operation on China policy, an issue Japan seems to be ducking successfully. Aided by a soft winter, EU energy concerns have become quite manageable.
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FeaturesHigh yield bonds: do your homework
Last year, European bond markets were struck by a toxic a combination of geopolitical, economic and market tensions. The picture has improved with the dawning of 2023, although the markets will continue to experience bouts of volatility and uncertainty will persist. High yield is back on the agenda, but selectivity and careful analysis will be key in identifying the right opportunities.
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NewsInarcassa ups bonds, cuts equities in new strategy
The scheme has also decided to integrate a sustainability element in its latest asset allocation strategy
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German church schemes opt for passive high-yield strategy, exclude ETFs
The pension funds have switched to indexed products, partnering with Insight Investment and steering away from its active high-yield managers
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Bond volatility demands UK schemes prepare for urgent action, says Aon
The situation has arisen because the bond market has repriced rapidly
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Asset Class ReportsCredit: Inflation and the bond markets
Risks look likely to be building in credit as central banks wreak collateral damage on economies in their bid to tame inflation
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FeaturesFixed income, rates & currency: inflation battle in full swing
As we reach the midpoint of the year, there is little sign that the second half of 2022 will be any less turbulent than the first. The conflict in Ukraine slogs on – a destructive war of attrition, pain and fear. The repercussions are huge, global and unpredictable, be they surging energy prices or impending, but acute, shortages of basic foodstuffs, or of semi-conductors, so vital to 21st century life.
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NewsDutch pension funds increase investments in high yield
On average, pension schemes in the country now have invested 11% of their fixed income allocation in the asset class
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Asset Class ReportsCredit: Anthropocene fixed income
Former credit portfolio manager Ulf Erlandsson is on a mission to shake up the bond markets’ climate-change credentials
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FeaturesBriefing: High yield off to a rough start to the year
High yield did not have a good start to the year. Rising inflation and a more hawkish central bank tone in the US and UK triggered panic selling in January. However, as the dust settles and bad news is priced in, the asset class looks more appealing than other fixed-income segments. Easy pickings may be gone, though, and opportunities will have to be selected carefully.
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FeaturesFixed income, rates, currencies: Inflation spotlight on central banks
Not often far from the action, central banks have been centre stage in 2022 as one after another in the developed markets reveal their hawkish intents. The speed and synchronicity with which they have shifted has been pretty remarkable, with only the Bank of Japan not yet joining other main central banks.
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Asset Class ReportsUS banks lead a boom in debt issuance
Capital requirements and locking in cheap funding have prompted banks to issue more bonds, but Europe lags behind
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Special ReportNextGenEU: Towards a new euro yield curve?
Bonds designed to support member states hit hardest by the pandemic look set to become a new safe asset
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ATP ditches €800m US HY exposure to buy €1bn green corporate bonds
Danish pensions giant says shift to green bonds within investment portfolio is part of future-proofing efforts
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LD Pensions tenders €235m systematic HY bond mandate
Danish pensions manager sets 15 September deadline for bids to deliver long-only, systematic high-yield strategy
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AP1 says fund launch marks strategy shift to net-zero from fossil-free
Swedish buffer fund seeds jointly-developed Federated Hermes climate impact HY fund
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FeaturesIPE Quest Expectations Indicator - August 2021
The next wave of COVID-19 has come to pass earlier than expected, largely due to new variants. The UK is hard hit, being sensitive to variants Alpha, Beta and Delta. The EU is next in line, with the Netherlands, Spain and Denmark in the forefront and Delta playing a leading role, but other member states are right behind. There is no sign of the next wave in the US yet, but it is sensitive to the variants Gamma and possibly Alpha, which plays a role in Canada.
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NewsPension fund in Denmark tenders $100m corporate bond mandate
Plus: Discovery search for residential real estate
